The software you mention above is GL/Trade. That costs $200/month. The VPN is another $200/month but option 1. allows you to BYO - T1, ISDN or whatever. Yes GCC access is included with all of the options.
It seems that proves Puffy's point - you are still using a front-end to Globex - GL/Trade being that frontend. In other words - PATS doesn't go to GL/Trade and then to GLOBEX. PATS goes to GLOBEX as GL/Trade goes to GLOBEX.
This pdf download describes what GL/Trade in the US is. http://www.gltrade.fr/pdf/GL_USA_Brochure.pdf http://www.gltrade.fr/glus/ <i> "GL has four hubs in the US, two in New York and two in Chicago. Client coverage is provided 24x5 with the help desk being manned from 6:00pm on Sunday evening to 6:00pm on Friday evening. In total, eight people cover the desk during the day with two support staff overnight to support our customers."</i>
Joe D Thanks. It looks like GL/Trade has something very similar to jtrader dome, with the addition of volume traded at the price level. Can you execute with one click on the price. Any hot keys, to buy/sell the b/a. I noticed a smart pad keyboard on the web site. That would be overkill for me.
Enough discussion on system architecture. Anyway the deal offered by CME is hard to beat. I'd like to see more discussion on finding the best clearing firm for clearing service only.
Yes - there are many options to fire off trades quickly, like setting up your own hot keys or using the delivered configuration etc. I've seen many of the ex-floor traders use programmable Joysticks to trade but I think that is overkill too unless you're doing a massive number of trades per day.
.... and I've never seen such vehement clinging to uninformed, untested and flawed beliefs. How do you know it's always milliseconds? It makes little difference for trading styles that do not need accurate quotes and fast execution - but if your trading style involves hitting the bid/ask at the last second, how many milliseconds do you think it takes to miss the trade? Worse, If your quotes are a minute off during fast markets (as they often are on IB, eSignal etc.), then the size you think you are hitting is an illusion. That price and size ceased to be there sixty seconds ago. If you don't need it, more power to you and don't waste your money - but don't delude yourself that there is no difference.